State of New Jersey secondary Archives: on Corporations

Rich Pezzullo:
Government shouldn't bail out businesses that can't succeed

Rich strongly opposed the Bank Bailout and the Auto Bailouts and believes government's role is not to bail out businesses that cannot succeed.
As Senator,˙Rich Pezzullo will support the House-initiated repeal of the Dodd-Frank Law that justifies future bailouts with intense job-killing regulations on the financial industry.˙

Seth Kaper-Dale:
End estate tax and corporate welfare tax credits

Currently, NJ has a 7 bracket state tax system. I propose we add an 8th and 9th bracket, so that those who have the good fortune of exorbitant wealth can contribute more to our state. I also propose that the
Estate Tax be reinstated and corporate welfare tax credits should be scrapped. If NJ goes with single payer, NJ business will have such incentive to do business here that they won't need any additional tax credits.

Kim Guadagno:
Work with businesses to cut state regulations in half

Since becoming the Garden State's first Lieutenant Governor in 2010, Kim has been working to cut government red tape, recruit new businesses and help existing businesses stay and grow in New Jersey. Thanks to her efforts, New Jersey has added 278,000
net new private sector jobs and more than 100,000 new businesses have filed paperwork to setup shop across our state in 2016 alone. Kim has worked collaboratively with the business community to cut the number of pages of state regulations in half.
While New Jersey's economy has improved and become more responsive to the business community, we can and must do better.

Kim understands that to truly unleash New Jersey's economy, our leaders in
Trenton must get serious about lowering the tax burden on families while fostering a more welcoming, customer-friendly environment for businesses.

Source: 2017 New Jersey gubernatorial campaign website
Feb 3, 2017

Jack Ciattarelli:
10-year phase out of the corporate business tax

Comprehensive Tax Reform to Spark Economic Growth & Create Jobs

Never tax gain on sale of a primary residence or second home.

Never increase property taxes when homeowner has made a home improvement.

Abolish the death tax and transfer
inheritance tax.

Increase retirement income exclusion to make the state more affordable for seniors.

Do not tax the gain on the sale of a family-owned business.

Effectuate a new tax agreement to ease the burden on NJ residents that work in NYC.

Allow for carry forward of capital losses to help business grow and create jobs.

Close various corporate loopholes and enact a 10-year phase out (10% per year) of the corporate business tax to make New Jersey more economically competitive.

Restructure marginal tax rates on taxable income over $750,000 and $1,000,000 as part of comprehensive tax reform that greatly benefits the middle class and all New Jerseyans.

Chris Christie:
$2.3 billion small business tax relief package

In these past five years, we have delivered needed tax relief to small businesses. The $2.3 billion small business tax relief package that we continue to phase in is improving New Jersey's business climate and making our state more competitive.
That approach is explicit in the sweeping, bipartisan changes we've made to New Jersey's economic incentive programs.

And we have better targeted them to areas of our state that need investment most. And the verdict is in--and the early returns
from the economic opportunity act show that it is working to attract and retain businesses. In total, our pro-growth policies and streamlined economic development efforts have brought in over $12 billion dollars of new public and private investment in
New Jersey in these last five years.

The fact is that, the deeper they look, the more businesses like what they see. Companies have chosen New Jersey as a home for expansion.

Source: State of the State address to 2015 New Jersey Legislature
Jan 13, 2015

Cory Booker:
Lower corporate tax rate & close loopholes

Our corporate tax code offers a veritable menu of misplaced incentives and a high tax rate. But there is an alternative. Together, we can create a simple, dependable tax code that levels the playing field, creates jobs, and positions American businesses
to lead the world. Any eventual solution should include the following:

Lowering the corporate tax rate: We must streamline the tax code and lower the statutory corporate rate, which at about 40% is the highest among all peer countries.
[We should] reduce the corporate tax rate to near 28%.

Eliminating misdirected corporate loopholes: The U.S. corporate tax code is teeming with tax breaks, loopholes, and exemptions.
Companies take advantage of these special carve-outs to pay much less than the official corporate tax rate--and often pay nothing at all.

Under our current system, these practices may be perfectly legal, but they aren't fair.

Jeff Bell:
Low interest rates favor big businesses over small

Bell [wants] to draw attention to the issue of the Federal Reserve setting artificially low interest rates, which Bell says allow the federal government to run up trillions in debt and also benefit large corporations and investment banks; they stagnate
the economy because they prevent small community banks from giving loans to small businesses and start-ups.

"It isn't profitable for them to lend to a business with a certain amount of risk with very low interest rates, so a lot of the lending that
would normally set up lines of credit for small business are on the sidelines." Because small businesses are the biggest job creators, the lack of available credit hurts the labor market, he said.

Bell's proposed solution is to return the country to a
gold standard, in which a large percentage of the US dollars in circulation are required to be backed by the corresponding value of gold in reserve. He believes doing so will cause interest rates to rise but provide greater long-term economic stability.

Source: Burlington County Times on 2014 New Jersey Senate race
Jun 1, 2014

Cory Booker:
Government procurement should promote women-owned business

I will make sure that the government contract procurement process promotes women-owned businesses and female entrepreneurs, as well as fair pay.

I will follow the lead of the many courageous women who have helped achieve the progress we have made,
and will do all I can to support their efforts to build a country in which gender does not impact how much you bring home in your paycheck, to what extent you control decisions about your health, or how far you're likely to go in your career.